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Teresa's Weekly Briefing: Fall Forum and free webinar from the Wallace Foundation

By Teresa Eyring posted 08-19-2019 15:28

  

One of our highest-rated Fall Forum sessions ever was Roche Schulfer of Goodman Theatre’s presentation on the business model of the not-for-profit theatre, “Why Not-for-Profit Theatre?” Using Baumol and Bowen’s seminal theory on how cost disease creates unique financial pressures for the performing arts sector, Schulfer issued a clarion call for supporting our art form. Notably, his talk helped trustees gain a clearer understanding of the unique economics of producing in and managing our resident theatres. Suffice to say, many aha moments were heard throughout the presentation. In recent years, the pressures on our theatres have only grown. And with a sea-change in artistic and managing leadership nationwide, now is an urgent time for cross-generational discussion about how we can strengthen our business and producing models for the future.  

 

To that end, we’re focusing this year’s Fall Forum on Governance on an in-depth exploration of our multi-faceted business model and how it plays out in today’s world. Called A New Playbook, the Fall Forum will empower theatre leaders and trustees to reimagine our theatres’ resources, programs, and structures, as well as how we measure and communicate our impact to funders and other supporters. Registration will be launching shortly, but I encourage you to read more about the Fall Forum and save the dates here

 

This week, we’re sharing a cross-disciplinary example of successful audience-building practices, supported by the Wallace Foundation. From Taste to Appetite: Audience-Building Strategies from Opera Theatre of Saint Louis (OTSL) is a free webinar for TCG Member Theatres rescheduled from earlier this year. OTSL’s newer audiences weren’t spending enough on tickets to replace the losses of those departing. OTSL used market research and analysis to test the impact of innovative new programs like Opera Tastings in order to develop a new audience with an appetite for opera. The results? More than three-quarters of the Tastings attendees were new, with an average of 42 percent later buying tickets to their mainstage productions. Lean more and register here.

 

I hope you are all enjoying your summers!

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